Where can I get life insurance daughter who has Cystic Fibrosis?

You may want to consider a low value guaranteed issue life insurance policy like Gerber or Globe Life Insurance for children offers.

Guaranteed issue individual life insurance will insure almost anyone who comes along, with no medical examination, and few or no medical questions.

These guaranteed life insurance policies should not be confused with "simplified issue" or "quick issue" individual life insurance, which do ask some medical questions but also will not require an examination.

Make sure you do the math to figure out how much you might have to pay out for the guaranteed issue life insurance policy over a period of 5, 10 or 15 years. Cumulative premiums paid over the long term may exceed the face amount of the life insurance policy. So, over time you may pay more premiums than the amount of life insurance that may be paid out in case of death of the insured person.

In addition, guaranteed issue life insurance policies always have "graded benefits" provisions. A graded death benefit stipulates that the life insurance policy pays out only a portion of the death benefit if the insured person dies within the first several (1-3) years of the policy. This provision is put in to thwart someone from getting a policy when they have been given two or three months to live. Insurers could not offer this type of policy without a graded benefit provision.

Here's how to learn more about guaranteed issue life insurance plans and request a free quote online.

NEW! Here’s How to Buy up to $250,000 of Term Life
Insurance without any Medical Exam,
Just a Few Health Questions.



Disclosure: Compensated Affiliate

Life Insurance and Cancer?

Is it possible to get a life insurance policy after you find out you have cancer?

I'm just curious because my grandfather died of cancer when my mom was 13, in the early 1970s, and she said that he had some kind of life insurance policy.

I'm just curious to know whether he would have organized it before or after he found out about the cancer.

It was probably life insurance he had purchased before being diagnosed with cancer.

There is a way to purchase life insurance after a diagnosis called Guaranteed Issue Life Insurance.

The policies have small face values, usually less than $20,000.

Because guaranteed issue life insurance polices do not rely on medical information to set your premiums, the cost tends to be very high.

The high premiums, combined with a low face amount for the death benefit, make guaranteed issue life insurance a less desirable option for relatively healthy individuals.

The policyholder may end up paying more in premiums over the life of the life insurance policy than the beneficiaries will receive upon their death.

In addition, these life insurance policies have "graded benefits". A graded death benefit policy pays out only a portion of the death benefit if you die within the first 1-3 years you own the life insurance policy. In the first two to three years your beneficiary might only receive a return of the premiums paid up until that time.

Here's how to learn about cancer life insurance options that may be available for people who have survived cancer.

NEW! Here’s How to Buy up to $500,000 of Term Life
Insurance without any Medical Exam,
Just a Few Health Questions.



Disclosure: Compensated Affiliate